Coinbase CEO Says Bitcoin Has Bottomed, Sees $400K by 2030 as 'Reasonable Target'

Coinbase CEO Brian Armstrong says Bitcoin has likely bottomed and sees $400K by 2030 as reasonable, citing cycle trends and easing selling pressure.

Bitcoin & Crypto Markets News

Coinbase CEO Brian Armstrong says he believes Bitcoin has bottomed in the current cycle and expects it to trend higher over the next 1–2 years toward $400K by 2030.

Coinbase CEO Brian Armstrong said on Sept. 10 that he believes Bitcoin (BTC) has reached its cycle low and will trend higher over the next one to two years.

Speaking to

Squawk Box Asia, Armstrong called a

price target of $400,000 by 2030 a "reasonable target," even as the asset traded at around $77,000 to $78,000 at the time of his comments.

Armstrong pointed to Bitcoin's historically observed four-year cycle as the basis for his view. He said the current down period has lasted approximately one year, which he described as consistent with past cycle patterns. "I personally believe that the bottom is in on Bitcoin in this most recent cycle," he told CNBC, citing the asset's rise from around $60,000.

What the Data Says About Selling Pressure

On-chain research firm Glassnode

a note on Sept. 9 stating that Bitcoin had gained 23% over 21 trading sessions through that date. The S&P 500 and Nasdaq 100 were broadly flat over the same period. Glassnode also found that selling pressure had eased as BTC approached a resistance band between $83,000 and $86,000, with its seven-day Sell-Side Risk Ratio at seven basis points per day, less than half the 16 basis points recorded at the August peak.